How to use accounts payable for the balance


Based on this information, can anyone assist in formatting the adjusted trial balance in the format provided below. Here is the information and format: During its first month of operation, the Flower Landscaping Corporation, which specializes in residential landscaping, completed the following transactions. March 1 Began business by making a deposit in a company bank account of $72,000, in exchange for 7,200 shares of $10 par value common stock. March 1 Paid the current month's rent, $4,500. March 1 Paid the premium on a 1-year insurance policy, $3,300. March 7 Purchased supplies on account from Parkview Company, $900. March 10 Paid employee salaries, $2,200. March 14 Purchased equipment from Hammond Company, $9,000. Paid $1,500 down and the balance was placed on account. Payments will be $375.00 per month for 20 months. The first payment is due 4/1.

Note: Use accounts payable for the balance due. March 15 Received cash for landscaping revenue for the first half of March, $4,896. March 19 Made payment on account to Parkview Company, $450. March 31 Received cash for landscaping revenue for the last half of March, $5,304. March 31 Declared and paid cash dividend of $1,000. Prepare an adjusted trial balance and post closing entries in proper format in the space below. Flower Landscaping Corporation Adjusted Trial Balance March 31 Prepare the closing entries at March 31 in the General Journal below. Hint: Use the balances for each account which appear on the Adjusted Trial Balance for your closing entries. General Journal Date Description Debit Credit Requirement #9:Post the closing entries to the General Ledger T-accounts and compute ending balances. Just add to the adjusted balances already listed.

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Accounting Basics: How to use accounts payable for the balance
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